Key Takeaways
- • CLSE ETF holds $728.5M in assets under management with an actively managed long/short equity strategy targeting 50%-100% net long exposure across US stocks, as of the May 26, 2026 reporting date.
- • Current valuation metrics show CLSE trading near 52-week highs, with the fund priced at approximately $33.70–$33.92 on the measurement date, compared to a 52-week range of $23.15–$34.76, representing a 45.7% year-to-date recovery from the low.
- • Fund characteristics include a beta of 0.81x (lower market volatility) and a 1.52% net expense ratio, with an annual dividend yield of 0.78% ($0.26 per share), positioning it as a lower-volatility alternative equity strategy.
- • Top fund holdings include Dell Technologies (1.90% weight) and Advanced Micro Devices (1.83% weight), indicating concentration in semiconductor and technology sectors.
- • Average daily trading volume of 244.69K shares supports institutional liquidity, with intraday volume of 210.95K shares on the measurement date, providing reasonable execution capacity for institutional allocators.
Summary
The Convergence Long/Short Equity ETF (CLSE) is an actively managed US equities vehicle launched December 29, 2009, that employs a market-neutral to moderately long-biased strategy. The fund maintains dual long and short positions in US-listed equities while targeting a net long exposure range of 50%-100%, designed to deliver returns with reduced downside volatility compared to traditional broad-market equity indices.
As of May 26, 2026, CLSE held $728.5M in assets under management, representing meaningful scale within the long/short equity ETF category. The fund's recent price performance reflects recovery momentum: trading near $33.70 places it approximately 3.1% below its 52-week peak of $34.76 while up 45.7% from the 52-week low of $23.15, indicating significant volatility over the trailing 12-month period.
The fund's risk and return profile reflects its hedge fund-like structure. With a beta of 0.81x, CLSE exhibits approximately 19% lower price sensitivity to broad market moves compared to the S&P 500, aligning with the stated objective to reduce risk. The net expense ratio of 1.52% is consistent with actively managed equity ETF pricing, while the 0.78% dividend yield ($0.26 annualized) provides modest income generation.
Sector concentration is evident in the fund's largest holdings: Dell Technologies and Advanced Micro Devices each represent approximately 1.8%-1.9% of the portfolio, reflecting exposure to semiconductor and technology infrastructure themes. Average daily trading volume of 244.69K shares supports institutional-scale position building and redemptions, with sufficient bid-ask depth to accommodate larger allocations typical of institutional portfolios.
As of May 26, 2026, CLSE held $728.5M in assets under management, representing meaningful scale within the long/short equity ETF category. The fund's recent price performance reflects recovery momentum: trading near $33.70 places it approximately 3.1% below its 52-week peak of $34.76 while up 45.7% from the 52-week low of $23.15, indicating significant volatility over the trailing 12-month period.
The fund's risk and return profile reflects its hedge fund-like structure. With a beta of 0.81x, CLSE exhibits approximately 19% lower price sensitivity to broad market moves compared to the S&P 500, aligning with the stated objective to reduce risk. The net expense ratio of 1.52% is consistent with actively managed equity ETF pricing, while the 0.78% dividend yield ($0.26 annualized) provides modest income generation.
Sector concentration is evident in the fund's largest holdings: Dell Technologies and Advanced Micro Devices each represent approximately 1.8%-1.9% of the portfolio, reflecting exposure to semiconductor and technology infrastructure themes. Average daily trading volume of 244.69K shares supports institutional-scale position building and redemptions, with sufficient bid-ask depth to accommodate larger allocations typical of institutional portfolios.
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